Can SOL withstand possible market correction?
Solana is one of the biggest losers today, going down by 4.13%.
On the hourly chart, the price of Solana has returned to the local support level of $24.06. If buyers cannot restore the initiative by the end of the day, the breakout may lead to the test of the $23.5 level tomorrow. On the daily chart, the situation is also more bearish than bullish as the price is below the important $25 mark. If the candle closes near the support at $23.65, the impulse may continue to the zone of $22-$23. Such a scenario is relevant until the end of the month.
On the daily time frame against Bitcoin , Solana is trading sideways as the price is located in the middle of the channel, between the support at 0.0009881 and the resistance at 0.0011797.
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